Word: offsets
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With one hand he would beckon the Dictators to a peace conference table, with the other he would make the largest gesture of "force to force" that he knew how: move the Battle Fleet back into the Pacific where it could offset any Japanese menace to Great Britain, France and The Netherlands in the Orient...
According to Tokyo's Nichi Nichi, Japan's Cabinet finally concluded last week that "overwhelming military victories" were insufficient to offset the constant flow of foreign money and materiel into China. In the near future they will: 1) enlist the active assistance of Germany and Italy in bringing "diplomatic pressure" against U. S., French, British and Russian aid to China; 2) sharply curtail the interests of those four nations within China...
...Germany, which must buy important raw materials outside her borders, needs real money. Germany reports about $29,000,000 in gold left (some esti mates: as high as $200,000,000). Czecho slovakia, an exporting country, had $80,000,000 in gold in its national bank, enough to offset Germany's adverse trade balance for a few months, and about two and a half times that much in foreign assets and ex change, which Germany may not get (see p. 18). This loot was small but enough to make any pinched-bellied dictator's fingers itch...
...Post-Enquirer earn far less, but stand to get a boost from the fair this year. The Seattle Post-Intelligencer, once the weak sister of the Coast, has been pulling out of the red under Roosevelt Son-in-Law John Boettiger, will make enough in 1939 to offset 1938's losses. These papers will probably survive as a string long after Hearst is gone...
...John L. Lewis four weeks ago (TIME, Feb. 6). Having had time to weigh the reaction among his rank & file, Rebel Martin last week professed to want only "an autonomous union" within C. I. O., where he is no longer wanted. Thus he apparently hoped to offset reports that he is thinking of lining up with A. F. of L.'s William Green, whom most autoworkers heartily distrust...